Reliance Global officially entered the digital asset industry in September. At first, they built a multi-coin treasury based on Bitcoin and added Ethereum, Cardano, XRP, Solana, and a few more big coins. The portfolio was based on a standard diversification method, with each token chosen to represent a different part or idea of the broader crypto market. After a thorough examination by Blake Janover, the chair of the company's crypto advisory board, the corporation decided to close all prior positions and move all its digital assets to Zcash. Executives say the reset is based on a strong belief that a single, thesis-driven holding is preferable to a basket of volatile coins for the company's long-term balance sheet strategy and risk appetite. Why Zcash, and Why Now? Reliance Global says Zcash is a privacy-focused cryptocurrency based on the same fundamental ideas as Bitcoin. It offers optional privacy features and a dual-mode that lets you make both transparent and shielded transactions. The company can better protect its financial privacy with that structure while remaining open enough for auditors, regulators, and institutional partners to see what it does. The company's advisory board has said that Zcash's flexibility for corporate governance, custody, risk management, and audit processes is a key reason for concentrating the treasury. They also cite the coin's recent price movement, with Zcash bouncing back to levels not seen in years, as proof that people are once again interested in privacy-focused assets amid growing concerns about blockchain surveillance and transactional traceability. Resetting The Strategy and Talking to Investors Ezra Beyman, the chairman and CEO, has called the all-cash move a strategic realignment instead of a risky bet. He says it provides stockholders with greater clarity, discipline, and long-term value. Reliance believes that the simpler structure makes it easier to explain its digital asset strategy to the public markets and to compare performance to a clear thesis. The corporation has made it clear that its governance, compliance, and custody structures are being made to function with ZEC in a public company setting. Management says that the company is not merely a passive holder, but an active player in the Zcash ecosystem and other blockchain projects. This move is part of a larger push for digital transformation and technology-led innovation in insurance. What The Pivot Implies For Crypto Treasuries Other companies exploring crypto holdings will be very interested in what Reliance Global does. So far, many of these companies have just invested in Bitcoin or, more recently, Ethereum. By picking one high-conviction privacy coin rather than a basket of blue-chip coins, the business is essentially testing whether public markets will reward a more aggressive, theme-based approach to digital assets. This move shows that corporate treasury strategy is growing within the broader crypto industry. Now, privacy features, regulatory suitability, and protocol design can be just as important as market capitalisation. Suppose Zcash continues to do well and regulators allow privacy currencies that comply with the rules. Reliance's all-in decision might be an important example for mid-cap companies considering keeping more digital assets in a single location.

Black Friday normally belongs to electronics stores and fashion outlets, not institutional-grade finance. Yet one question now dominates crypto circles: what happens when a Black Friday crypto sale connects to private-market deal access once limited to elite investors?  IPO Genie’s rare 30% bonus event answers that question with precision, positioning itself as the most significant value window of the season. The offer ends soon, and the exclusivity behind it is driving serious attention across November’s markets. Why This Black Friday Crypto Sale Stands Apart From Typical Promotions? Most Black Friday crypto sale offers focus on quick discounts, flashy airdrops, or meme hype. IPO Genie ($IPO) takes a different approach. Its 30% bonus is tied to real hedge-fund infrastructure, real assets, and real AI-powered investment access.  Comparison examples like BlockDAG or Toncoin show how many seasonal promotions lean on speculation rather than structured benefits. IPO Genie’s approach shifts the narrative, grounding its Black Friday event in utility and verifiable deals rather than seasonal marketing noise. The Institutional Credibility Behind IPO Genie’s 30% Bonus Window IPO Genie’s 30% bonus offer sits on top of a framework few Black Friday crypto sale campaigns can match. The platform operates within a hedge-fund-style structure supported by over $500M in managed assets, creating a standard of trust that is rare in emerging markets. The credibility stack deepens with three industry pillars: CertiK for smart-contract auditing Fireblocks for institutional custody Chainlink for on-chain data verification Together, they create a compliance-driven foundation that signals seriousness. With the event running through November 21st, 2025, this bonus arrives at a moment when institutional security matters more than seasonal excitement. Analysts Highlight Surging Participation as Black Friday Attention Peaks Analysts tracking November presales note the rising attention around IPO Genie. The project raised $2.5M within hours earlier this year, a performance that now frames its Black Friday campaign as one of the season’s most credible opportunities. On-chain activity reinforces this view. DAO voting, staking, and governance participation show engagement levels rarely seen this early in a presale lifecycle. Such behavior mirrors the foundational stages of Solana and Arbitrum. If you missed SOL’s earliest community wave, this offer renews that sense of strategic timing. Analysts treat IPO Genie’s structure as a viable alternative to speculation-driven launches. How IPO Genie Works During the Black Friday Bonus Period Despite the elevated interest, the mechanism behind the 30% bonus stays straightforward: Buy $IPO through the Black Friday crypto sale event. Access vetted private-market deals sourced from institutional pipelines. Exit anytime through tokenized secondary liquidity, without long traditional lockups. The 30% bonus simply enhances step one. It increases allocation, lowers effective cost, and strengthens access across all private-market options. What a 30% Bonus Could Mean for Early Buyers? Outcome positioning remains grounded in transparency. IPO Genie offers no assurances of returns, yet the structural benefits of a 30% addition are clear. Bonus tokens lower average entry cost while expanding allocation potential across institutional-grade AI, fintech, and robotics deals. At the current price of $0.00010350, a $100 purchase gives buyers roughly 966,000 $IPO tokens, and the 30% Black Friday bonus adds an additional 289,800 tokens on top. In total, that works out to about 1.26 million tokens received during the event — giving buyers significantly deeper access to the ecosystem without increasing their spend. Analysts also highlight broader sector trends. Reports estimate that AI-crypto markets could surpass $45 billion by 2030, and that tokenized private-market flows may reach multi-trillion-dollar scale. These data points create a realistic framework: investors gain positioning in sectors with measurable growth expectations. They do not guarantee performance, but they show why analysts suggest this may become the top ai token of 2025, especially with its Black Friday boost. The Private-Market Access Advantage Behind IPO Genie’s Black Friday Event IPO Genie’s Black Friday position is strengthened by its core value: access to private markets. For decades, early-stage opportunities remained limited to connected institutions, family offices, and funds with minimums above $250,000. This Black Friday crypto sale brings a contrasting model. Holding $IPO unlocks exposure to vetted deals across AI, robotics, fintech, and DeFi. These opportunities reflect an environment once restricted to professional investors. The 30% bonus amplifies that access without changing the underlying diligence standards or compliance layers. It also aligns with IPO Genie’s AI-powered intelligence engine. The platform’s “Sentient Signal Agents” run real-time scans of financial indicators, startup performance, and market sentiment. Unlike typical AI tokens focused only on automation, this intelligence engine acts as a predictive discovery system for private-market investments. This utility is why analysts increasingly rank the project among the top ai token of November 2025. Why Investors Are Acting Before the Bonus Window Closes Historical presale momentum supports the urgency. Previous IPO Genie stages sold faster than projections, with over 60% of supply committed early. DAO records show deep participation from long-term holders, not just short-term opportunists. Analysts reviewing whale address behavior report quiet accumulation across several Tier-1 BNB and ETH wallets. These entries appear strategic, correlating with periods of high community engagement and upcoming catalyst events. Market observers note that as the Black Friday crypto sale period narrows, natural scarcity builds around both pricing and allocation. IPO Genie’s infrastructure also elevates its seasonal presence. Tokens audited by CertiK, secured through Fireblocks, and validated through Chainlink form a sharper contrast to discount-focused promotions. This combination is why several research feeds label it the best Black Friday token for 2025. A Convergence of AI, Tokenization, and Institutional Structure The ecosystem behind IPO Genie positions its Black Friday offer within a larger movement: the transition from closed private markets to tokenized, AI-augmented access models. The Sentient Signal Agents learn investor behavior, detect early-stage signals, and identify emerging founder patterns. Private-market tokenization, meanwhile, enables fractional participation and secondary liquidity without traditional delays. As this convergence expands, IPO Genie’s structure gains additional weight. Analysts suggest that if tokenized private-market flows capture even a fraction of projected growth, platforms with institutional alignment could benefit significantly. This view supports the rising label of IPO Genie being among the best Black Friday token opportunities available, particularly within the private-market niche. Closing Thought: One Weekend, One Bonus Window IPO Genie’s 30% Black Friday bonus stands out because it empowers access rather than speculation. The event remains open only until 1st December, 2025 Monday at 11:59 PM, reinforcing its exclusivity. Buyers gain expanded positioning in a platform built on compliance, institutional partnerships, and AI-enhanced deal discovery. For readers evaluating this window, the next step is simple: review the project, understand the private-market model, and consider whether this rare Black Friday crypto sale aligns with your investment goals. The offer is temporary, but its structure reflects long-term thinking. Join the IPO Genie presale today:   Official website Telegram Twitter (X)  Disclaimer: This information is for educational purposes only and should not be taken as financial advice. Always conduct independent research before participating in any crypto presale or purchase.

Deriv has launched its first-ever global brand campaign, built around the message “Trading for anyone. Anywhere. Anytime.” The initiative marks a major milestone for the company, which has grown to serve more than 3 million clients since its founding in 1999. The campaign aims to challenge outdated perceptions of online trading, positioning it not as a niche or intimidating pursuit, but as an inclusive, technology-driven experience accessible to everyday individuals worldwide. As global demand for digital financial tools continues to rise, Deriv’s new campaign seeks to place financial inclusion at the center of modern trading. Senior Vice President of Marketing Yoli Chisholm emphasized that the industry has historically created high barriers that prevent newcomers from participating. By reinforcing trust, ease of use, and accessibility, Deriv aims to break those barriers and invite a broader, more diverse audience into the financial markets. The campaign also signals Deriv’s commitment to positioning trading as a skill anyone can explore with confidence. Built around human-centered messaging and elevated by AI-powered production, the initiative blends storytelling with technology to highlight how trading has shifted from a specialist activity to an empowering financial avenue open to users at all experience levels. Takeaway Deriv’s global campaign reframes online trading as an inclusive, intuitive experience designed for every type of participant—not just seasoned professionals. How Deriv Is Becoming an AI-First Organisation Through Creativity and Technology A defining element of the new campaign is its AI-powered production framework. Developed by Deriv’s in-house creative agency, the campaign uses artificial intelligence to enhance visual storytelling while preserving human-led creative direction. The approach reflects Deriv’s shift toward becoming an AI-first organisation, integrating automation and intelligence across marketing, engineering, compliance, product development, and HR. Vice President of Design Carl Whiteside described the effort as a partnership between human creativity and AI capability. Rather than replacing creative teams, AI was used to elevate production quality, accelerate workflows, and bring futuristic concepts to life. This aligns with broader industry trends where fintech firms are increasingly blending machine intelligence with human oversight to deliver more personalised and efficient client experiences. Deriv’s internal use of AI mirrors its long-term goal of reshaping the online trading ecosystem through innovation. The campaign showcases how AI can support brand storytelling while also reflecting a broader transformation: modern traders expect more intuitive interfaces, faster insights, and smarter tools. Deriv’s AI-first mindset positions the company to address those expectations across its global operations. Takeaway By merging human creativity with AI-driven enhancements, Deriv reinforces its identity as an innovation-led trading platform ready for the next generation of market participants. Why Deriv’s Accessibility Pillars Matter for the Future of Global Online Trading The global campaign is structured around three pillars—Anyone, Anywhere, Anytime—representing Deriv’s commitment to inclusive financial participation. Each element reflects the platform’s long-standing product values: intuitive tools, multilingual support, 24/7 market access, and technology designed to empower traders at every stage of their learning journey. With support in more than 22 languages and seamless access across web and mobile, Deriv continues expanding into regions where access to financial markets has historically been limited. The company’s focus on education further supports these pillars. By offering comprehensive learning materials, platform guidance, and user-first content, Deriv encourages users to build confidence rather than feel intimidated by financial complexity. This aligns directly with the campaign’s goal of reshaping how audiences perceive online trading—positioning it as an accessible tool for financial exploration, not a club reserved for financial experts. The global rollout includes digital, social, and traditional media formats, highlighted by a 45-second AI-enhanced cinematic advertisement featuring traders from different backgrounds. Its messaging reinforces the idea that ambition and opportunity exist everywhere, and trading can be part of that journey. With a widened focus on accessibility, Deriv is positioning itself as a key platform for the next era of global financial inclusion. Takeaway Deriv’s accessibility pillars—Anyone, Anywhere, Anytime—capture a global strategy focused on removing barriers and delivering intuitive, always-available access to financial markets.

What Actually Happened at Vienna Blockchain Week? Vienna Blockchain Week 2025 wasn’t just another conference. Over three tightly packed days, the Web3 Hub Vienna became a crossroads for policymakers, builders, venture investors, and researchers trying to make sense of where Europe’s digital asset landscape is heading. Organized by DLT Austria under the leadership of Ed Prinz and Nasib Fathi, the event gathered more than 70 speakers and delivered a mix of regulation-focused sessions, deep technical debates, and a few headline-grabbing product launches. The tone of the week was clear: Europe is moving toward tighter regulation, deeper institutional involvement, and more real-world integration of blockchain technology. And unlike previous years, most discussions didn’t orbit around speculative hype — they were grounded in compliance, infrastructure, and long-term adoption. Investor Takeaway Europe is preparing for large-scale blockchain integration under strict rules. Builders aligning with MiCAR, CARF, and EU tax standards will have the first-mover advantage. How Regulation and Compliance Dominated Day One The first day leaned heavily toward legal and regulatory realities — a sign of where Europe’s priorities lie. Panels unpacked the complexities of global AML enforcement, cross-border tax reporting, and the interplay between traditional financial rules and decentralized infrastructure. Crystal Intelligence’s Jacek Trzmiel broke down how regulators are now pairing on-chain analytics with traditional investigative tools to catch money laundering and sanctions evasion. Meanwhile, PWC Austria’s Johannes Edlbacher gave one of the most sought-after presentations of the day with a detailed explainer of the Crypto-Asset Reporting Framework (CARF) — a standard likely to reshape how investors and exchanges report activity globally. One of the more widely discussed talks came from Deloitte Legal’s Alireza Siadat, who addressed common misconceptions around MiCAR implementation. And as L2 networks, rollups, and cross-chain bridges continue to blur regulatory lines, EY Law Austria’s Paul Neubauer and Alexander Glaser outlined how EU law interprets these increasingly essential Ethereum scaling solutions. Bitcoin Infrastructure, Stablecoins, and a Major Bybit Surprise The second day turned the spotlight toward Bitcoin, DeFi, and next-generation payment layers. One of the most technical sessions — moderated by Nasib Fathi — brought together researchers and academics to examine how Bitcoin mining, energy markets, and infrastructure intersect. Contributions from Alexander Neumüller of CCAF and Prof. Horst Treiblmaier provided much-needed data-driven clarity. Then came the biggest announcement of the day: Bybit EU launched its MiCAR-compliant Bybit Card for Europe. The new Mastercard debit card allows users to spend crypto at over 90 million merchants, marking one of the first major consumer-facing crypto-finance products built fully within MiCAR’s regulatory perimeter. Tokenization Takes Center Stage on Day Three The final day shifted toward tokenized assets and institutional investment trends. Venionaire Capital AG unveiled the Venionaire Layer One Select Index (VLONE), the first regulated Layer-1 index in Europe — now listed on Bloomberg terminals. For many fund managers attending the event, the index could become a foundational benchmark for upcoming regulated ETFs and decentralized investment products. SMAPE Capital’s Astrid Woollard shared a candid look at how crypto-native VCs run due diligence on token projects — a talk that resonated with founders preparing for a more demanding investment environment. DeFi Technologies President Andrew Forson made the case that exchange-traded products (ETPs) are becoming the preferred bridge between traditional finance and the increasingly fragmented crypto market. Investor Takeaway Tokenization is no longer theoretical. VLONE’s launch on Bloomberg signals the arrival of regulated, index-based crypto allocations for mainstream institutions. Side Events and Policy Talks Highlight Europe’s New Priorities A standout side event took place at Central European University, bringing together policy experts — including OSCE virtual assets specialist Dr. Nina-Luisa Siedler and BlackVogel’s Founder Mariana de la Roche Wills. The discussions focused on sensitive issues such as the handling of inside information across decentralized networks, the regulatory treatment of liquid staking tokens, and how market abuse rules apply to crypto derivatives under MiCAR and MAR frameworks. There was also a strong undercurrent of anticipation around KuCoin EU’s expected approval for its MiCA license, a development that could significantly shape competitive dynamics across European exchanges. Vienna’s Growing Role in Europe’s Digital Asset Landscape If one takeaway defined the week, it was Vienna’s emergence as a serious contender for Europe’s next major blockchain hub. With support from organizations like PwC Austria, EY Law, Bybit EU, Bitcoin Suisse, Venionaire, Stellar Development Foundation, Aptos Labs, 21shares, and many others, the event demonstrated both depth and diversity. Unlike typical crypto conferences that gravitate toward trend cycles, Vienna Blockchain Week leaned into the complexities — regulation, compliance, tokenization structures, and infrastructure design. In short: the things that actually determine whether digital assets scale sustainably across Europe. With new licenses, new products, and new regulatory clarity on the horizon, Vienna’s influence in shaping Europe’s digital asset trajectory is only likely to grow from here.

The extraordinary volatility triggered by the April 2 “Liberation Day” tariff announcement sent shockwaves across global markets, providing one of the most significant real-world stress tests for modern credit infrastructure in years. As detailed in Credit Markets in Transition, CDS index volumes nearly doubled on April 3, but despite the intensity of the move, market functioning remained orderly. Unlike the severe disruptions seen during 2020 and 2022, credit spreads widened but avoided the steep dislocations of prior crises, underscoring the sector’s structural evolution. High-yield credit experienced sharper turbulence, with CDX HY spreads widening rapidly before recovering later in the month as investors saw a tactical opportunity to add risk. A defining pattern re-emerged: during stress, liquidity concentrated in index-based products, which offer deeper markets and lower basis risk. Yet, single-name CDS liquidity also improved temporarily, reflecting growing investor comfort with more granular hedging tools even in challenging conditions. Clearing emerged as a stabilizing force. Firms that cleared options and associated hedges at the same CCP were able to net variation margin, significantly reducing funding pressures. According to page 5 of the report, LCH CDSClear’s margin predictability—improved since the unpredictable calls seen during the 2020 Covid volatility—gave clearing members confidence during the April stress event. This predictable margin framework enabled institutions to calculate calls ahead of time, improving liquidity planning and risk control. Takeaway April’s volatility confirmed the resilience of cleared credit markets, while spotlighting ongoing fragility in single-name CDS liquidity and funding pressures for firms relying on bilateral exposure. Why Single-Name CDS Liquidity Remains a Structural Challenge Despite progress, single-name CDS remains one of the most structurally constrained segments of global credit markets. As highlighted on page 6, European single-name CDS liquidity has deteriorated since the financial crisis—a trend driven by reduced bank intermediation, lingering concerns over manufactured credit events, and the decline of natural protection sellers following the collapse of the synthetic tranche market. Although reforms such as the ISDA 2019 Narrowly Tailored Credit Event supplement strengthened product credibility, investor awareness remains an obstacle. The report notes that single-name clearing adoption still lags index clearing in Europe, largely due to operational constraints, uneven sell-side engagement, and limited post-trade transparency. Market participants suggested that improving transparency, expanding the tradable universe beyond major indices, and introducing Standardised Reference Obligations (SROs) would help rebuild liquidity. These structural changes would not only deepen participation but also broaden the investor base capable of using single-names for hedging and directional views. Compounding this challenge is the macro environment: geopolitical risk, uneven global growth, and rate uncertainty are expected to drive additional volatility in the years ahead. With credit risk now “priced to perfection,” as the report describes on page 10, even small dislocations can spark outsized moves. In markets where hedging tools like private credit derivatives remain limited, single-name CDS could become more essential—yet its liquidity must improve to meet demand. Takeaway Single-name CDS markets face structural constraints, and improving transparency, clearing uptake, and product standardization will be critical to strengthening liquidity. Clearing Growth, New Products, and Futures/ETF Expansion Signal the Next Phase for Credit Markets The past five years have seen rapid innovation across credit markets, and that trend accelerated through 2025. Page 7 of the whitepaper notes that LCH CDSClear has expanded its clearing of options across four major indices and now clears more than 800 single-name CDS—250 of which are unique to its platform. This deepening pool of cleared products enhances margin efficiencies and standardizes workflows across indices, single-names, and options, enabling firms to operate with greater transparency and reduced counterparty risk. Credit futures and fixed-income ETFs have also become central to market structure. As seen on page 8, ETFs surged in trading volume during the April volatility, mirroring CDS index activity. ETFs now serve as both liquidity hubs and hedging tools, especially for banks managing large bond baskets via portfolio trading. Meanwhile, credit index futures—initially met with skepticism—have gained legitimacy as effective hedging instruments when paired with ETFs or cash positions. Their rising adoption is further supported by the growth of options clearing, which enables firms to net margin with underlying CDS positions. Looking forward, the industry expects rapid product innovation, increased clearing adoption, and closer coordination among CCPs, brokers, and buy-side participants. As the April shock demonstrated, modern credit markets are more resilient and diversified than in past crises. Still, as page 10 emphasizes, sustained progress will require collaborative innovation: new instruments, broader data transparency, expanded clearing access, and unified workflows that enhance firms’ ability to navigate geopolitical and macroeconomic uncertainty. Takeaway Clearing, ETFs, credit futures, and options are reshaping the credit ecosystem, offering firms more tools to manage volatility—but continued innovation and coordination are essential.

Why do most traders miss life changing opportunities when the market dips? It happens because fear takes control in moments when early buyers quietly accumulate positions. Q4 is known for discounted entries, especially for those searching for the next 100x crypto presale before the market rebounds and liquidity returns. BlockchainFX ($BFX) steps into November 2025 with rising demand, a rapidly moving sale, and a powerful financial use case backed by real market utility. Its 500+ asset trading system, AOFA license, and exploding momentum make it a solid contender for early positioning. With the BF70 bonus giving 70% extra tokens, this is the strongest limited time entry of the season. BlockchainFX ($BFX): The Next 100x Crypto Presale Shaping Global Trading Access BlockchainFX ($BFX) is designed to fix a problem millions of traders face every day. Users switch between multiple platforms to trade crypto, forex, commodities, ETFs, and stocks. BlockchainFX solves this by bringing 500+ markets into one unified ecosystem. The presale price is $0.03, rising soon to $0.031 before its confirmed launch at $0.05. This upward curve reflects growing demand, fast adoption, and stronger early entry potential. The BF70 code increases every token purchase by 70%, giving buyers one of the highest bonus allocations available in 2025. Over $11.4M has already been raised with 18,000+ participants joining the early rounds. The project redistributes up to 70% of its platform fees to BFX stakers, including rewards paid in USDT. Strong revenue streams, real trading activity, and regulatory approval through the AOFA license give the project long term credibility that investors look for during market dips. BlockchainFX ($BFX) Utility, Rewards, and Global Growth Potential BlockchainFX builds value through real technology, not speculation. The platform redistributes fees from trading volume, listing services, copy trading commissions at 1.25%, subscriptions, and liquidity incentives. As activity rises, staking rewards increase, building a dependable income loop for long term holders. With crypto still representing only $89B of global daily financial activity compared to forex at $7.5T, the expansion potential is massive. BFX is backed by a team with 25 years in fintech and trading. Early platform testing from more than 20,000 beta users resulted in a 4.79 out of 5 rating and 86% user retention plans. These numbers confirm long term trust and product market fit. Combined with international licensing and clear financial projections of $30M revenue in 2025 scaling to $1.8B by 2030, the project positions itself as a sustainable Web3 trading gateway. BlockchainFX ($BFX) Growth Forecast, Team Strength, and User Confidence Revenue targets show scalable growth as global traders adopt unified platforms for multi market access. BlockchainFX is designed to attract beginners and professionals by offering advanced tools, automated rewards, and secure trading backed by regulation. As user numbers move toward 25M projected traders by 2030, the demand for the BFX token strengthens naturally. The BF70 bonus code amplifies buying power during this stage. Investors purchasing now receive a 70% increase in token allocation, giving them a significant advantage before the next price jump. Because each sale stage moves quickly, the low entry window does not stay open for long. This is why increasing numbers of users are entering before the price reaches its launch value of $0.05. $500,000 BFX Community Giveaway with Massive Prize Allocation BlockchainFX is offering a $500,000 BFX giveaway across ten major winners to celebrate community growth. The top prize allocates $120,000 in BFX, followed by $80,000 for second place and $60,000 for third place. Participants can earn entries through simple online actions, making the event accessible to both new and experienced holders. Alongside the giveaway, daily staking rewards offer additional earning opportunities. Users who hold and stake BFX during the campaign can accumulate rewards in BFX and USDT. This dual incentive system creates high engagement and strengthens long term retention. Combining the giveaway with the BF70 bonus code creates one of the hottest Q4 opportunities for early buyers. AOFA License Secured: BlockchainFX ($BFX) Achieves Full International Approval BlockchainFX has secured a global trading license from the Anjouan Offshore Finance Authority (AOFA). This achievement places the project among regulated financial platforms and separates it from the majority of unregulated crypto ventures. Securing this license early indicates a strong commitment to transparency, international standards, and operational legitimacy. The license opens access to additional global markets and builds investor confidence during presale periods. Regulatory approval significantly strengthens the long term roadmap and enhances the token’s utility. The BF70 bonus code coupled with the regulatory milestone creates a rare combination of credibility and financial opportunity, making this November 2025 entry window exceptionally strong. Price Acceleration: Early Stage Growth and High Bonus Advantage The starting price of BFX was $0.01. Investors who entered with $10000 during that period secured 1,000,000 tokens. At the confirmed launch price of $0.05, this position is now valued at $50,000. The current stage price of $0.03 still offers one of the best entry points, especially with the BF70 code providing 70% extra tokens. The upcoming increase to $0.031 is near, and the rising demand reflects strong market confidence. Stage 1 is gone, but the presale remains open for those who understand timing. With each stage filling rapidly, buyers entering now gain an advantage before the next upward movement, supported by a powerful 2025 trading narrative. $1000 BFX Investment Breakdown with BF70 Bonus Scenario Calculation Result Tokens at $0.03 $1000 ÷ 0.03 33,333 BFX Tokens after BF70 33,333 + 70% 56,666 BFX Value at launch $0.05 56,666 × 0.05 $2,833 Approx profit $2,833 minus $1000 $1,833 Presale Stage Comparison and Profit Growth Table Stage Price $10,000 Buy-In Token Amount Value at $0.05 Profit Stage 1 $0.01 $10000 ÷ 0.01 1,000,000 $50,000 $40,000 Current Price $0.03 $10000 ÷ 0.03 333,333 $16,666 $6,666 Current with BF70 333,333 + 70% 566,666 $28,333 $18,333 How to Buy BlockchainFX ($BFX) with BF70 Visit the official sale page. Connect your wallet. Select your payment token. Enter your amount. Apply the BF70 code to activate your 70% bonus. Confirm the transaction. Hold until launch for maximum upside. Unstaked ($UNSD): Stage 22 Update with $10.94M Raised Unstaked ($UNSD) is progressing steadily as Stage 22 reaches 88.34% completion. A total of 1,258,192,503 tokens have been sold, raising $10,941,693.85 during its current cycle. The price stands at $0.012091, reflecting consistent community engagement. The stage has moved 36.52M out of 41.34M tokens, showing near stage completion. While the project attracts ongoing participation, UNSD remains focused on gradual expansion and community involvement rather than large scale financial systems like BlockchainFX. It holds its place in the market but does not match the advanced trading utility, global licensing, or multi asset capability that define the BFX ecosystem. Best Wallet ($BEST): $17.46M Raised with 3 Days Remaining Best Wallet ($BEST) is nearing the end of its sale period with only 3 days left on the countdown. The project has raised $17,465,910.05 with a token price of $0.025995. This final stage reflects strong interest from wallet focused users who want secure transactions and self custody tools. The sale timer signals limited availability as BEST closes its current cycle. While the project provides important wallet functionality, it operates in a different domain compared to BlockchainFX, which targets global financial access and multi asset trading. BEST continues to move steadily toward its closing window as buyers finalize their positions. Is BlockchainFX The Next 100x Crypto Presale? BlockchainFX, Unstaked, and Best Wallet each play unique roles in the evolving market landscape. BlockchainFX stands at the front with a global trading license, 500+ market access, strong revenue models, and high utility. Its structured approach positions it as a leader for 2025 and beyond. The opportunity to join early remains open, with the BF70 bonus offering 70% extra tokens for a limited time. As the price moves toward its $0.05 launch value, this window becomes smaller. Now is the time to act. Secure your allocation in the next 100x crypto presale and enter before momentum accelerates. Find Out More Information Here Website: https://blockchainfx.com/  X: https://x.com/BlockchainFXcom Telegram Chat: https://t.me/blockchainfx_chat

Sydney, Australia, November 26th, 2025, FinanceWire Blueberry, the global online trading platform, is thrilled to announce a long-term partnership with the Bonds Flying Roos, the Australia SailGP Team and three-time SailGP Champions, becoming the team’s Official Online Trading Partner. The Rolex SailGP Championship is the world’s most exciting racing league, featuring 12 national teams competing on identical high-speed F50 foiling catamarans at 12 iconic waterfront locations around the world. Reaching speeds of more than 100 km/h, SailGP sees the sport’s best athletes push the limits in a championship defined by national pride, precision and total performance. The Rolex SailGP Championship culminates in a winner-takes-all grand final, where the winner will receive US $2M, the largest prize in the sport.The Bonds Flying Roos, led by Olympic gold medallist Tom Slingsby, have dominated SailGP with three championships in four seasons. Earlier this year, the team entered a bold new chapter as co-owners Hugh Jackman and Ryan Reynolds joined the helm of the high-speed racing outfit. The co-ownership is a testament to the sport’s growing worldwide profile and the continued rise of the Australia team. This partnership marks Blueberry's first major investment in the sporting world and is poised to play a pivotal role in expanding the brand’s presence across global markets. The multi-year deal will see Blueberry’s branding featured on The Bonds Flying Roos’ F50 race boat, across the team's technical apparel and throughout its digital channels. As part of the collaboration, Blueberry clients will have access to exclusive experiences at SailGP events worldwide, hosted by the Blueberry team in high-energy, immersive environments at race destinations. This strategic move signals Blueberry’s commitment to innovative, experience-led activations that go beyond traditional global sponsorship models. This is a distinct move from Blueberry, focusing on an innovative and highly immersive brand experience and activation versus the industry norms of other sports and motor racing sponsorships. This partnership aligns seamlessly with Blueberry’s strategic push to enhance its presence in key international markets. The Rolex SailGP championship spans 12 races across 11 countries, a unique opportunity for Blueberry to engage with audiences from diverse regions, all while showcasing its core values of precision, strategy, and excellence, qualities central to both financial trading and elite performance sailing. Dean Hyde, CEO of Blueberry, expressed, "Our partnership with the Bonds Flying Roos marks a major milestone for Blueberry as we expand our global footprint. As a proud Australian brand, we’re thrilled to team up with one of Australia’s most successful and dynamic sporting outfits. The Bonds Flying Roos constantly demonstrate dedication, determination, and an unrelenting will to win, values we share at Blueberry. We look forward to this exciting journey together and to delivering memorable experiences for our clients worldwide." Tom Slingsby, Driver and CEO of Bonds Flying Roos added, "The Flying Roos are driven by performance and the pursuit of being the best in everything we do. In 2025, we are welcoming new partners who share that same mindset. We’re delighted to have Blueberry join the family, a brand that shares our values of ambition, precision, and performance.” Blueberry will debut its partnership with the Bonds Flying Roos at the Mubadala Abu Dhabi Sail Grand Prix 2025 Season Grand Final presented by Abu Dhabi Sports Council, from November 29–30, where Slingsby’s crew will compete for a place in the winner-takes-all Grand Final and a USD 2 million prize purse. This partnership marks a strong finish to what has been a transformative year for Blueberry, highlighted by the launch of new trading platforms like TradingView and cTrader, along with a refreshed brand identity, a newly designed website and the expansion into new markets. These milestones underscore Blueberry’s continued business growth, further solidifying its position as a leading global trading platform. With the Bonds Flying Roos SailGP Teamsponsorship, Blueberry is poised to build on this momentum, offering clients exclusive, premium experiences while reinforcing its commitment to growth and innovation across the world. ABOUT BLUEBERRY Blueberry is a widely trusted and globally regulated online trading platform. It offers a wide range of trading instruments including forex, share CFDs, crypto CFDs, commodities, and indices. With Blueberry, users can unlock precision trading, faster execution, tight spreads, and top-rated customer support. Users can visit blueberrymarkets.com to find out more. ABOUT SAILGP The most exciting racing on water, the Rolex SailGP Championship is a global championship with national teams battling it out in identical high-tech, high-speed 50-foot foiling catamarans at iconic venues around the world. Racing faster than the wind at speeds exceeding 100 km/h // 60mph, the Rolex SailGP Championship is driven by the sport’s top athletes, with national pride, personal glory, and bonus prize money of US$12 million at stake. Powered by nature - wind, sea and sun - driven by purpose, SailGP races for a better future. Users can visit SailGP.com to find out more. Contact Head of Marketing Nadav Linden Blueberry Markets nadav.linden@blueberrymarkets.com

This week, it was announced that the US government has partnered with Advanced Micro Devices (AMD) to launch the “Mission Genesis” programme, aimed at enhancing national computing power via supercomputers. The initiative is expected to substantially increase federal computational capacity while also providing a boost to AMD’s revenue. Despite the promising news, AMD shares were among the weakest performers yesterday. Investor concerns over rising competition from Google weighed on sentiment. Media reports highlight that: → Google’s Tensor Processing Units (TPUs) are showing strong capabilities for AI training. → Meta Platforms is reportedly negotiating to invest billions in Google chips for its data centres starting in 2027. AMD has seen its share price fall around 20% since the beginning of the month, which is concerning, but technical analysis suggests there may be support for a recovery. Technical Overview of AMD Shares Since April, AMD has been trading within a broad upward channel (marked in blue). Key observations include: → The stock reached an all-time high at the end of October, where the channel’s upper boundary acted as resistance. → Between 7 and 17 November, the median line provided support but could not sustain the upward movement. → Currently, the price is testing the channel’s lower boundary, which may now serve as a support level. Additional support may come from: → The psychological $200 mark. → A wide bullish gap, with its upper edge around $205. Overall, the technical setup indicates potential for bullish activity, suggesting that AMD could attempt to resume its broader uptrend for 2025. FXOpen offers spreads from 0.0 pips and commissions from $1.50 per lot. Enjoy trading on MT4, MT5, TickTrader or TradingView trading platforms! The FXOpen App is a dedicated mobile application designed to give traders full control of their accounts anytime, anywhere. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.  

Spain’s government is reportedly preparing a new legislative proposal aimed at strengthening tax rules and compliance around cryptocurrencies. The proposed bill, still under internal discussion, would expand tax obligations and enforcement mechanisms for crypto users and service providers. According to early commentary from tax-policy analysts, the bill could increase the overall tax burden on crypto activities through stricter reporting, enhanced data-sharing with authorities and more aggressive classification of crypto-related income. Under existing laws, taxpayers in Spain must declare profits from crypto disposals—such as sales, trades or swaps—as savings income or capital gains. These gains are taxed at progressive rates between 19 percent and 28 percent. Income earned through mining, staking or receiving crypto as compensation is treated as general income, which can be taxed at rates as high as 47 percent depending on individual circumstances. Additionally, crypto holdings may trigger wealth tax liabilities for individuals whose total net wealth exceeds regional thresholds. Despite this framework, the newly referenced draft seeks to broaden definitions of taxable crypto activity and increase the enforcement powers of the Agencia Tributaria. Critics argue that the proposal could create excessive tax burdens and discourage innovation, as investors and startups may face higher compliance costs and greater uncertainty regarding their tax obligations. What investors and the crypto industry stand to lose—or gain If the reforms move forward, crypto investors may face more frequent reporting requirements, limited flexibility in tax planning and potentially higher effective tax rates. This could reduce participation in activities such as high-frequency trading, speculative token swaps or decentralized finance operations. Increased compliance demands may also impact smaller market participants, including retail traders and small businesses experimenting with blockchain-based tools. On the other hand, investors seeking regulatory clarity may find the reforms reassuring. Clearer rules around crypto taxation could make the market more predictable for institutions and wealth managers, potentially attracting more conservative capital into Spain’s digital-asset ecosystem. The reforms may also affect service providers, including exchanges and custodians, particularly those operating under the EU’s Markets in Crypto-Assets Regulation. New rules could obligate these entities to share more detailed transaction data with tax authorities, raising operational costs tied to compliance, KYC and AML obligations. Looking ahead: what to watch Key developments to monitor include whether the draft is officially introduced to Parliament, how lawmakers choose to classify crypto-derived income and the timeline for implementing new reporting requirements. The impact on upcoming tax seasons will be significant if new rules are fast-tracked, particularly for individuals who actively trade or earn income from digital assets. More broadly, Spain’s legislative shift could influence crypto taxation discussions across the EU. As digital assets gain prominence, member states are evaluating how to balance innovation with effective oversight. Spain’s proposed reforms may set a precedent for nations weighing similar changes. In summary, while Spain already taxes crypto gains and income, the country’s proposed reforms signal a move toward more comprehensive oversight. With stricter compliance expectations and potentially higher tax burdens, the bill—if enacted—could reshape the landscape for crypto investors and providers across Spain.

Texas has formally opened a strategic Bitcoin reserve, becoming the first U.S. state to allocate public funds toward BTC. On November 20, 2025, the state acquired Bitcoin exposure through the IBIT spot Bitcoin ETF, using an initial tranche of approximately $5 million as part of a planned $10 million allocation. Under legislation signed earlier this year, the State Comptroller is authorized to hold digital assets as long-term reserve instruments. According to officials, the ETF purchase serves as an interim measure. Texas intends to transition to direct self-custody of Bitcoin once its dedicated custodial infrastructure is complete. Supporters of the move have described the timing as opportunistic, noting that the acquisition occurred during a period of broader market volatility. While the $10 million allocation represents a small portion of Texas’s total treasury, the decision carries significant symbolic weight, marking a rare instance of a U.S. governmental entity adopting Bitcoin as a reserve asset. Implications for public finance, crypto policy and broader market sentiment Texas’s decision to treat Bitcoin as part of its strategic reserves signals a meaningful shift in public-finance philosophy. The allocation positions Bitcoin alongside traditional reserve assets such as gold, signalling growing institutional acceptance of digital assets. Policymakers across several U.S. states have considered similar measures, and Texas’s move may accelerate legislative discussions elsewhere. For the broader crypto market, the state’s purchase provides both symbolic and practical reinforcement. Symbolically, it represents a milestone in Bitcoin’s progression from a speculative digital asset to a publicly recognised store of value. Practically, if more jurisdictions or institutions follow suit, increased demand could support long-term liquidity and reduce sell-side pressure. However, the decision is not without risk. Texas gained initial exposure through an ETF rather than directly held BTC, leaving it temporarily dependent on ETF structure until its self-custody systems are deployed. Bitcoin’s volatility also introduces balance-sheet risk; significant price swings could affect reserve valuations and prompt questions from lawmakers or taxpayers. Public-sector investment in volatile assets may draw scrutiny as adoption widens. Future considerations and potential ripple effects Market observers will closely watch the timeline for Texas’s transition from ETF-based exposure to direct, self-custodied Bitcoin holdings. The development of secure storage frameworks will be critical for ensuring long-term resilience and operational integrity. Analysts are also monitoring whether additional U.S. states or municipal governments pursue similar digital-asset strategies. The broader implications extend to regulatory and market dynamics. As more public-sector actors engage with Bitcoin, questions surrounding custody standards, reporting obligations and risk management frameworks may shift. The move may influence institutional market behaviour, impacting liquidity, pricing models and long-term demand. In summary, Texas’s $10 million Bitcoin allocation marks a significant milestone for the intersection of digital assets and public finance. As the first U.S. state to formally acquire Bitcoin for its reserves, Texas has set a precedent that could shape future policy and institutional adoption across the digital-asset sector.

Kevin Hassett, Director of the National Economic Council, has emerged as the leading contender to succeed Jerome Powell as Chair of the Federal Reserve. According to reports, Trump administration advisers view Hassett’s alignment with the White House’s economic philosophy—especially his preference for lower interest rates—as a key factor propelling him to the top of the shortlist. With Powell’s term ending in May 2026, the selection process appears to be accelerating. Treasury Secretary Scott Bessent has indicated that there is a strong possibility a decision could be announced before Christmas. Supporters of Hassett’s potential appointment believe his leadership would usher in a new direction in U.S. monetary policy, favouring pro-growth measures and earlier rate cuts. Hassett’s background and economic policy leanings Hassett has a long history in conservative policy circles and U.S. economic governance. Before his current role, he served as Chair of the Council of Economic Advisers from 2017 to 2019 and has an extensive background as an academic economist and policy adviser. His public statements suggest he would pursue a more accommodative monetary stance, arguing that current economic data supports earlier rate cuts. His prior involvement in executive economic policy gives him deep familiarity with the administration’s priorities, which analysts believe makes him a particularly attractive candidate for Trump. Observers note that his close relationship with the White House distinguishes him from more traditional central bank candidates. Potential consequences: market reaction, rate expectations and political risk If appointed, Hassett is widely expected to steer the Federal Reserve toward a looser monetary policy regime. Market analysts predict that such a shift could boost risk assets, including equities and digital assets, due to lower expected interest rates. This view aligns with recent narratives suggesting that easier monetary policy could serve as a tailwind for crypto markets. However, critics warn that appointing a figure closely aligned with the administration may raise concerns about the Federal Reserve’s independence. Increased perceptions of political influence over monetary policy could introduce volatility into bond markets, raise inflation expectations and weaken confidence in the central bank’s long-term credibility. There are also broader global implications. Changes in U.S. monetary policy affect global capital flows, exchange rates and economic stability in emerging markets. A pivot to rapid rate cuts under Hassett could lead to increased volatility across global financial markets, particularly in sectors sensitive to interest-rate movements. Despite the strong momentum behind Hassett’s candidacy, the decision remains ultimately with President Trump. Multiple candidates reportedly remain under consideration, and regulatory and political checks must still be accounted for. As markets continue to assess the odds, the prospect of a new era in U.S. monetary policy is shaping expectations across the financial landscape.

Acting Chair Caroline D. Pham has initiated a new regulatory push within the U.S. Commodity Futures Trading Commission (CFTC) aimed at developing clearer rules for prediction markets and other emerging event-based derivatives. The agency has opened nominations for its newly announced "CFTC CEO Innovation Council," a body designed to gather structured industry input and advise on rulemaking for digital assets, tokenized products and prediction-market contracts. The nomination window runs until early December, with the council expected to begin work shortly thereafter. The CFTC has signalled growing concern that current regulatory frameworks are not fully equipped to address the rapid rise of alternative derivatives structures. Earlier this year, the agency hosted public roundtables on innovation and market structure, explicitly listing prediction markets as a focal category requiring updated guidance. Pham emphasised that market evolution has outpaced existing regulations, making a structured approach to policymaking essential. Why the prediction-market ecosystem needs clear federal guidelines Prediction markets operate in a grey zone where many contracts could be classified as derivatives while simultaneously overlapping with activities regulated by state gambling authorities. Without tailored rules, platforms face uncertainty around listing standards, settlement mechanisms, collateral requirements and user protections. This has limited the entry of institutional market-makers and reduced the ability of platforms to scale. The formation of the Innovation Council indicates the CFTC’s intent to develop consistent principles that can apply across event-contract markets. Clear rules could encourage participation from liquidity providers, reduce regulatory risk and support the development of new hedging and forecasting tools. For crypto-native and on-chain derivatives platforms, defined federal guidance could enable new product categories while reducing legal ambiguity. Potential market impact and early regulatory signals The CFTC’s push for structured engagement could transform how prediction-market platforms operate. Standardised requirements around margin, settlement and risk controls may increase compliance obligations but could also expand mainstream acceptance and liquidity. For institutional participants, clarity would make it easier to assess counterparty risk, enabling more robust market-making and more competitive pricing. At the same time, regulatory tightening is likely. Federal guidelines may restrict certain categories of event contracts, particularly those related to elections or high-risk political outcomes, depending on public feedback and legislative pressure. Coordination between the CFTC and state regulators will also be critical to avoid overlapping jurisdictional claims. Looking ahead, key milestones include the publication of the Innovation Council’s membership, the release of initial guidance documents, and any formal rule proposals that emerge from ongoing roundtable discussions. The outcome of this process will shape the future landscape for prediction markets and event-driven derivatives in the United States. In summary, the CFTC’s move to establish a dedicated council marks a significant step toward providing regulatory clarity for prediction markets. As interest in event-based trading grows, the industry is watching closely to see how the agency balances innovation, consumer protection and federal oversight.

What Made X Open Hub’s Interest Plan Stand Out at iFX EXPO Asia? X Open Hub turned heads at iFX EXPO Asia 2025 with a programme that, on the surface, looks deceptively simple: brokers can now earn interest — up to 3.7% — on funds sitting untouched in their Hedge Accounts. But the reaction from institutional attendees suggested something deeper. At a time when regulators across Europe and beyond are tightening rules around product governance, oversight, and client protection, an interest mechanism built specifically for compliance-conscious institutions feels unusually well timed. The multi-regulated liquidity provider, part of the global XTB Group, positioned the programme as more than a revenue booster. Instead, it was presented as a practical incentive for brokers and banks to adopt cleaner governance structures around risk and product management — without forcing changes to their operational workflows. With regulation becoming more intrusive and reporting requirements growing more complex, the industry’s focus is shifting from “How fast can we grow?” to “How safely can we operate?” X Open Hub’s plan sits squarely in that conversation. Investor Takeaway Interest on hedge accounts may sound like a financial perk, but its bigger impact is structural: it encourages brokers to keep capital inside robust governance frameworks while improving margins. Why Governance and Transparency Are Driving New Institutional Demand Across Europe, the transposition of ESMA’s updated MiFID II requirements has reshaped expectations for brokers. There’s stronger pressure to improve supervision, document product governance, and demonstrate transparent handling of client and hedge funds. The institutions that fail to meet these expectations don’t just risk fines — they risk losing client confidence entirely. X Open Hub, regulated by CySEC, KNF, FSCA, IFSC, and DFSA, is leaning into that shift. The company has built its interest plan to fit comfortably inside these evolving rules, ensuring that brokers can enhance their capital efficiency while staying aligned with new governance expectations. The idea is straightforward: dormant hedge funds shouldn’t sit idle. If they can generate yield — transparently, automatically, and within a fully traceable audit framework — brokers strengthen both their financial and operational footing. According to CEO Michał Copiuk, “For institutions, interest on hedge accounts is an operational process first: clear cut-offs, auditable calculations, and timely reconciliation are what sustains trust.” That perspective resonated strongly at the EXPO, where governance-focused conversations were noticeably more prominent than in previous years. How the 3.7% Hedge Account Interest Works The mechanics of the plan are deliberately simple. Brokers using XTB’s platform or X Open Hub’s liquidity solutions earn interest on any positive balance held in their Hedge Account. There is: No minimum threshold No maximum cap Daily accrual and automatic monthly payouts The interest rates differ slightly by currency: USD: up to 3.6% EUR: up to 1.8% GBP: up to 3.7% PLN: up to 3.2% Because interest is calculated automatically, brokers don’t need to alter internal processes, adjust accounting structures, or change how they manage hedge exposure. The plan simply rewards institutions for capital that already needs to sit within the hedge account anyway. The appeal is obvious: better capital efficiency with no operational disruption. Eligibility and Operational Advantages for Brokers Institutional clients must meet several conditions to qualify. They must: Actively use the XTB platform and X Open Hub’s liquidity or technology suite Maintain a positive balance on their Hedge Account at midnight CET/CEST Meet a mutually agreed turnover requirement, negotiated individually Once those conditions are met, the benefits extend beyond yield. Brokers gain access to X Open Hub’s multi-asset liquidity network, automatic reconciliation processes, full audit trails, and a platform known for execution quality, smart order routing, and minimal slippage. This creates an ecosystem where interest becomes just one of several operational efficiencies — a complementary feature to a much larger technology and liquidity stack. Investor Takeaway With spreads tightening across the industry, incremental income from hedge balances can meaningfully improve broker margins. The plan’s regulatory alignment gives it long-term staying power. Why the Market Is Paying Attention Now The interest programme couldn’t have arrived at a better moment. X Open Hub was recently named “Best Liquidity Provider – APAC” and “Best Technology Provider – APAC” by UF AWARDS APAC 2025. These wins, paired with the plan’s regulatory-friendly structure, position the company as a liquidity provider that understands the pressures facing brokers today — margin compression, regulatory tightening, and the need for more efficient capital deployment. For brokers operating in or expanding into Asia-Pacific, the interest plan adds something more tangible than an award: a financial incentive that integrates neatly into existing operations and supports governance improvements without additional overhead. The programme is available to new and existing X Open Hub clients, with detailed documentation and FAQs available through its website for institutions wanting a closer look at activation rules, tax treatment, or account-level specifics. In a year where “best practices” are no longer a suggestion but a regulatory expectation, X Open Hub’s hedge account interest plan arrives as both a practical and strategic tool. It gives brokers a way to strengthen governance, improve capital efficiency, and tap a new revenue stream — all while operating inside the rules that define the next chapter of institutional trading.

Dunamu, the parent company of South Korea’s largest crypto exchange Upbit, is considering a formal appeal after receiving a significant administrative fine from the Financial Intelligence Unit (FIU). According to local reports, the company has begun an internal legal review to determine whether the penalty was imposed appropriately and whether regulators exceeded their supervisory authority. The decision comes amid heightened scrutiny across South Korea’s digital-asset industry as the Virtual Asset User Protection Act approaches full implementation. The FIU’s fine reportedly centres on alleged shortcomings in anti-money-laundering procedures, customer verification processes and mandatory reporting standards. Although the exact amount has not been publicly disclosed, industry sources indicate that it is among the largest penalties issued to a virtual-asset service provider in the Korean market. Dunamu maintains that it has adhered to regulatory requirements and implemented robust compliance systems, arguing that the severity of the sanction does not accurately reflect its operational practices. Regulatory context and industry implications South Korea’s regulatory environment for digital assets has tightened considerably over the past year. Authorities have increased enforcement actions against exchanges, custodians and token issuers, emphasising stricter oversight ahead of new investor-protection rules. Dunamu’s potential appeal could become a pivotal case in defining how these regulations are interpreted and applied. Legal and regulatory experts note that if Dunamu successfully reduces or overturns the fine, it may set an important precedent limiting the scope of administrative sanctions. Conversely, an unsuccessful appeal may embolden regulators to impose heavier penalties across the industry. The case unfolds at a time when virtual-asset service providers are investing heavily in upgraded internal controls and compliance frameworks to meet evolving standards. Market reaction and next steps for Dunamu Despite the regulatory action, Upbit continues to maintain a dominant share of domestic trading volume, and market reaction to the fine has been relatively subdued. Analysts suggest that Dunamu’s strong capital position and substantial liquidity reduce the likelihood of near-term operational disruption. However, the incident raises longer-term questions regarding regulatory friction and the consistency of supervisory enforcement. Dunamu’s legal team is expected to finalise its review soon, after which the company must decide whether to file an official objection with the FIU or escalate the matter through South Korea’s administrative-litigation process. The outcome of either course could influence how regulators balance enforcement with market stability as digital assets become more integrated into the country’s financial system. In the months ahead, attention will focus on whether Dunamu proceeds with the appeal, how regulators respond and what broader implications this case may have for South Korea’s rapidly evolving crypto oversight framework. For the industry, the resolution could shape compliance costs, licensing expectations and operational standards across one of Asia’s most active digital-asset markets.

Crypto investment products saw a notable shift in sentiment yesterday as U.S. spot Bitcoin ETFs recorded a renewed wave of inflows after an extended period of persistent outflows. According to daily fund-flow data, spot Bitcoin ETFs collectively attracted approximately $128.6 million in net inflows, a reversal from the steep withdrawals that have defined most of November. The rebound was led primarily by the Fidelity Wise Origin Bitcoin Fund (FBTC), with additional support from several mid-sized issuers that experienced modest upticks in allocations. The move comes after a month marked by one of the sharpest drawdowns in the history of Bitcoin ETFs. Across November, investors have withdrawn more than $3.5 billion from spot Bitcoin funds, driven by shifting macro expectations, increased volatility and concerns around monetary-policy uncertainty. Analysts note that yesterday’s inflow does not necessarily signal a sustained trend reversal, but it does highlight traders’ readiness to re-enter positions during price consolidation phases. The flows observed yesterday are viewed as a technical counter-move rather than broad institutional re-engagement. Market context and shifting investor sentiment The renewed activity in Bitcoin ETFs follows several sessions of softening outflows, which analysts interpreted as early stabilisation rather than a definitive shift in demand. Bitcoin’s price has traded in a narrow range over recent days, creating an environment where opportunistic buying becomes more attractive for allocators seeking to rebalance portfolios or average into positions. Although Bitcoin ETFs captured most of the attention, flows into other crypto-linked products remained mixed. Ethereum-based ETFs continued to show mild outflows, consistent with a multi-week pattern of reduced allocation to ETH-exposure products. The divergence reflects a broader trend in investor behaviour this quarter, with Bitcoin maintaining its dominant share of institutional inflows while altcoin-oriented products lag behind. Despite yesterday’s positive figures, experts caution that structural headwinds remain. ETF flows have reacted sharply to shifting expectations around U.S. interest-rate policy, with the market oscillating between pricing in early rate cuts and preparing for prolonged restrictive conditions. This uncertainty has led to inconsistent capital flows, complicating trend analysis for crypto-focused funds. Daily ETF performance has increasingly functioned as a real-time barometer of market sentiment, reflecting rapid repositioning among both retail and institutional participants. What the rebound may signal for coming weeks The influx of capital into Bitcoin ETFs could indicate that investors are preparing ahead of potential year-end catalysts, including macroeconomic data releases and shifts in the Federal Reserve’s guidance. For some market participants, yesterday’s flows suggest tactical positioning rather than long-term conviction, especially given the backdrop of significant withdrawals earlier in the month. Fund managers note that liquidity conditions in Bitcoin ETFs remain healthy, with spreads and market depth largely stable despite the volatility in flows. This reinforces their growing role as institutional gateways into crypto markets, enabling rapid risk-adjustment without the frictions of underlying spot exchange trading. Looking ahead, market watchers will be focused on whether the rebound evolves into a sustained uptick in demand. A continued pattern of inflows could help alleviate the supply-demand imbalance created by early-November selling pressure. Conversely, if flows revert back into negative territory, it would indicate that investor caution remains the dominant force guiding allocations. For now, the latest data shows that interest in Bitcoin ETFs is far from dormant. Rather, it appears to be recalibrating in response to broader macro uncertainty, with yesterday’s inflows suggesting a cautious but active investor base navigating a rapidly shifting environment.

The United Arab Emirates has enacted Federal Decree Law No. 6 of 2025, bringing decentralized-finance platforms, Web3 projects, decentralized exchanges, blockchain bridges and stablecoin issuers under the direct oversight of the Central Bank of the UAE. Effective from mid-September 2025, the new law requires any entity offering financial-services activities—such as payments, lending, custody, exchange or investment services—to obtain a license from the central bank. The regulation removes the notion that operating through smart contracts or decentralized protocols exempts a project from licensing. Instead, the framework applies uniformly to digital-asset service providers regardless of their technological structure. Entities failing to secure a license may face administrative fines of up to one billion dirhams, along with potential criminal penalties. Regulatory intent, market impact and what’s next for crypto in the UAE The decree reflects the UAE’s broader strategy to integrate digital assets into its supervised financial system. Regulators aim to improve consumer protection, strengthen anti-money-laundering compliance and create clarity for financial-services innovators. By formalizing oversight of DeFi and related services, the central bank is seeking to establish a transparent and accountable environment for digital finance. For crypto-native projects and Web3 companies operating in the region, the law represents a significant compliance shift. Platforms will need to meet licensing standards, maintain governance structures and adhere to regulatory audits. The requirement applies both to existing entities and to those targeting UAE users, creating a uniform compliance pathway. Some firms may find the regulatory burden challenging, potentially leading to market consolidation or shifts toward hybrid operational models. From an institutional perspective, the introduction of clear oversight could bolster confidence in the UAE as a destination for digital-asset innovation. Large financial institutions and investment firms may view the regulatory clarity as an opportunity to expand operations or build partnerships with licensed DeFi and Web3 platforms. Compliance challenges and industry adaptation Key questions moving forward include how the central bank will structure detailed licensing criteria, how enforcement actions will unfold and how DeFi protocols will adapt to regulatory expectations. The transition period, which runs until September 2026, will be critical as entities work to align operations with the new framework. In summary, the UAE’s move to regulate decentralized finance marks a significant evolution in its digital-asset policy. By extending central-bank oversight to a broad range of Web3 and DeFi services, the country has signalled its intent to build a regulated and resilient digital-finance ecosystem.

South Korea’s leading crypto-exchange operator Dunamu, the parent company of Upbit, and payments provider Naver Financial have scheduled board meetings on November 26 to approve a comprehensive share-swap merger. If approved, the merger will be formally announced on November 27 at a joint press conference with senior executives from both firms. Under the proposed structure, shareholders of Dunamu will exchange their shares for Naver Financial shares at a ratio widely expected to be around one Dunamu share for three Naver Financial shares. This reflects Dunamu’s higher valuation, estimated at approximately 15 trillion won compared with around 5 trillion won for Naver Financial. Following the swap, Dunamu would become a wholly owned subsidiary of Naver Financial. Naver’s current 69 percent stake in Naver Financial would be diluted to roughly 17 percent under the merged structure, while major Dunamu shareholders—including its chairman and vice chairman—are expected to hold nearly 30 percent of the combined entity. The merger, if completed, would create a powerful player in the fintech landscape, combining payment infrastructure with digital-asset trading capabilities. Regulatory context, strategic rationale and road ahead The merger is viewed as a strategic step toward integrating payment systems with blockchain-based financial services. The two firms aim to build a financial ecosystem that spans traditional payments, digital assets, potential stablecoin issuance and Web3 financial applications. Regulators, however, are expected to scrutinise the deal closely. The merger touches on critical areas such as competition, systemic risk and market concentration. Authorities in banking, financial supervision and fair-competition oversight will review the transaction to ensure alignment with applicable laws. Analysts note that the combined firm may pursue a listing on the U.S. stock market, most likely the Nasdaq, if the merger proceeds. Such a move could attract substantial foreign investment and position the new entity as a prominent player in global fintech. Despite the attractive strategic narrative, hurdles remain. Shareholder approval, particularly from minority stakeholders, will be essential, given that the share-swap requires a special corporate resolution. Regulatory approvals must also be secured, and governance structures may need adjustment to satisfy competition authorities. Potential market impact and next steps If the merger moves forward, it could reshape South Korea’s fintech landscape. The integration of traditional payment platforms with the country’s most active crypto exchange may lead to new financial products, enhanced user convenience and broader adoption of digital-asset services. Market observers will be watching the upcoming board meetings, the anticipated announcement on November 27, and the subsequent regulatory reviews. In the meantime, questions linger about how the merger will affect market competition, innovation and risk dynamics within the sector. In summary, the impending vote on the Dunamu-Naver Financial merger marks a significant moment for South Korea’s fintech industry. The outcome could influence everything from market structure and investor sentiment to the country’s position in the global digital-finance landscape.

The U.S. Securities and Exchange Commission has granted Fuse Crypto Limited a no-action letter that effectively allows the firm to launch and distribute its FUSE token without being treated as a security under federal law. The decision, issued by the SEC’s Division of Corporation Finance, represents one of the most significant regulatory developments for utility tokens in recent years and provides Fuse with a clear compliance lane for its decentralized-infrastructure network. According to the SEC’s letter, enforcement staff will not recommend action against Fuse as long as the token is distributed and used according to the parameters the company outlined in its submission. These parameters include limiting the token’s role to network participation, energy-related functions and infrastructure coordination, with no promise of profits based on Fuse Crypto’s managerial or entrepreneurial efforts. The agency specifically emphasized that its conclusion was based entirely on Fuse’s factual representations and that any deviation from these facts may void the relief. Fuse Crypto’s project centers on a decentralized physical infrastructure network designed to reward users for participating in energy-efficiency programs, grid support, renewable-power integration and similar functions. Because the FUSE token is structured as a unit of utility within this ecosystem rather than as an investment product, the SEC determined that it does not meet the threshold of the Howey test, which governs what constitutes an investment contract under U.S. securities law. Regulatory implications and impact on the DePIN sector The SEC’s decision is widely viewed as a milestone for the DePIN category, a sector that has grown rapidly but has faced persistent regulatory ambiguity. Many infrastructure-focused tokens operate at the intersection of real-world activity and blockchain incentives, making it challenging for projects to determine whether their tokens fall within securities-law jurisdiction. Fuse’s no-action letter may now serve as a model for other projects seeking similar treatment, particularly those that can demonstrate measurable utility and avoid speculation-driven token models. Analysts note that the decision signals an increased willingness by regulators to engage with non-speculative token designs. While this does not constitute broad regulatory reform, it does show that the SEC is open to case-specific clarity where a project can demonstrate that a token’s primary function is consumptive rather than financial. For startups building decentralized infrastructure systems related to energy, mobility, data networks or telecommunications, the Fuse case may offer a blueprint for navigating U.S. compliance. Potential market consequences and considerations for token issuers Market observers believe the relief could accelerate Fuse Crypto’s rollout, attract institutional partners and give confidence to enterprises evaluating energy-efficiency programs tied to blockchain incentives. A clear regulatory perimeter also helps reduce legal risk for participating households, enterprises and grid-service providers that earn or redeem FUSE tokens as part of their operational activity. However, legal experts caution that the no-action letter is not blanket approval and applies only to the exact facts Fuse presented. Any changes to token economics, distribution, secondary-market behavior or promotional claims could trigger renewed scrutiny. The SEC has historically emphasized that no-action letters are not general precedents and should not be interpreted as broad exemptions for the wider industry. Even so, the decision marks a rare moment of legal clarity for a sector accustomed to navigating uncertain regulatory terrain. As the DePIN category continues to grow, more projects may be encouraged to approach the SEC proactively, demonstrating verifiable utility and compliance-ready design. In summary, the SEC’s relief for Fuse Crypto stands as a notable advancement for real-world-use tokens. By distinguishing utility from speculation, regulators have opened the door to more structured engagement with decentralized infrastructure networks and signaled a potential shift toward a more nuanced regulatory environment for crypto innovation.

What Does eToro’s UAE Crypto Expansion Introduce? eToro has opened crypto deposit functionality to users in the United Arab Emirates, marking a major step in the broker’s regional strategy and reinforcing the UAE’s growing status as a regulated Middle Eastern hub for digital assets. Alongside the rollout, UAE clients will gain access to eToro’s stock-cashback program, previously launched in the UK and Europe, giving traders 1 percent back in domestic equities when they convert crypto to USD. Users in the UAE can now transfer nine major cryptocurrencies—including Bitcoin, Ethereum, XRP, USDC and leading DeFi assets—from external exchanges and wallets directly into eToro. Once deposited, assets can be converted into USD and deployed across the platform’s multi-asset ecosystem, including equities, ETFs, commodities and crypto-CFDs. This feature allows eToro to capture existing crypto balances held off-platform rather than relying solely on on-platform purchases. It strengthens the company’s position as a bridge between external crypto liquidity and its broader investment network, a model that aligns with the broker’s long-standing multi-asset identity. Investor Takeaway By enabling external crypto deposits, eToro taps into off-platform holdings while nudging users toward multi-asset portfolios with equity-back rewards. It is a strategic funnel from crypto into traditional markets. Why the UAE Became a Strategic Priority for eToro The UAE has emerged as one of the world’s most structured and predictable regulatory environments for digital assets. Instead of relying on enforcement-heavy frameworks, the country developed licensing regimes through the Abu Dhabi Global Market’s Financial Services Regulatory Authority, Dubai’s Virtual Assets Regulatory Authority and the federal Securities and Commodities Authority. It was within ADGM’s comprehensive digital-asset rulebook that eToro secured its regional permissions, enabling it to operate as a broker for securities, derivatives and virtual assets for UAE clients. Those approvals laid the groundwork for today’s crypto-deposit launch. For international companies, the UAE offers several advantages: Regulatory clarity through established licensing frameworks A high-income investor base with strong appetite for multi-asset platforms Regional demand for platforms that connect crypto with traditional finance In this environment, eToro’s identity as a regulated, multi-asset and social-trading platform contrasts with offshore crypto exchanges that dominated previous cycles. For the broker, the UAE is both a commercial opportunity and a branding signal—one that aligns it with regulated jurisdictions rather than grey-zone players. How eToro’s Corporate Evolution Shapes This Rollout eToro’s latest step builds on nearly two decades of product and strategic development. The company launched in Tel Aviv in 2007 as RetailFX, offering visual, user-friendly access to forex markets. In 2010, it introduced OpenBook, one of the industry’s earliest social-trading systems, allowing traders to observe and replicate experienced portfolios—an innovation that remains central to the brand. The 2010s saw rapid expansion: equities in 2013, a broader CFD catalog, and early adoption of regulated retail crypto trading. Crypto eventually became one of eToro’s largest revenue drivers. In 2025, after years of speculation and a cancelled SPAC attempt, eToro finally listed on Nasdaq under the ticker ETOR at a valuation above five billion dollars. Its pitch to investors focused on a hybrid model powered by social-trading network effects, multi-asset execution, thematic portfolios and a user base that often enters through crypto before diversifying into equities and ETFs. The UAE rollout fits squarely within this strategic arc. Crypto deposits act as an on-ramp into eToro’s universe, and stock-back incentives encourage users to deepen engagement across asset classes. Investor Takeaway eToro’s model thrives when crypto users migrate into multi-asset investing. The UAE launch is designed to accelerate that conversion, backed by local-equity rewards and regulated infrastructure. Why eToro Is Pairing Crypto Deposits With Local-Equity Cashback The decision to reward UAE users with equities from the Abu Dhabi Securities Exchange and Dubai Financial Market reflects a targeted regional strategy. The promotion runs through March 2026 and features a rotating roster of eligible local companies. The approach serves two purposes: It reinforces local-market engagement by directing rewards into domestic equities rather than global stocks. It aligns eToro’s incentives with regional objectives to deepen liquidity on UAE exchanges. This mirrors earlier initiatives such as eToro’s Visa card, which gives users up to 4 percent back in chosen stocks. The company has repeatedly used “ownership rewards” to influence investor behavior and increase long-term portfolio activity. Competitive Landscape and Market Impact The UAE is now one of the world’s most competitive digital-asset arenas, with Binance, OKX, Crypto.com, Kraken and locally licensed brokers all expanding. eToro’s differentiation lies not in raw crypto volume, but in its identity as a regulated multi-asset platform with social-trading features and a mature equity offering. With the launch of crypto deposits and equity rewards, eToro is effectively turning the UAE into a test case: can a regulated broker merge external-wallet crypto flows with stock incentives and outperform pure-play exchanges? If the model proves successful, it is likely to appear in other licensed markets where eToro operates.

What Does MoonPay’s New York Trust Charter Enable? Crypto payments firm MoonPay has secured a key regulatory approval in one of the world’s most restrictive jurisdictions. New York’s Department of Financial Services (NYDFS) has granted the company a trust charter, allowing MoonPay to offer digital asset custody and over-the-counter trading services across the state. The move expands its existing regulated footprint, coming just months after MoonPay obtained a BitLicense in June. Only a small group of crypto companies hold both licenses, including Coinbase, Ripple Labs and NYDIG. With this approval, MoonPay becomes part of a narrow category of firms trusted by New York regulators to custody digital assets, act as fiduciaries and operate more like traditional financial institutions. Co-founder and CEO Ivan Soto-Wright said the charter enables the firm to deepen ties with global financial institutions and broaden its regulated services. The approval also marks a step toward MoonPay’s ambition to build a unified payments network connecting banks, card systems, stablecoins and blockchains under both U.S. and European regulatory regimes. Investor Takeaway A New York Trust Charter is one of the highest regulatory bars in crypto. Firms with both a Trust Charter and BitLicense tend to attract banks, asset managers and enterprise clients seeking compliant digital-asset infrastructure. How the GENIUS Act Pushes MoonPay Toward Stablecoin Infrastructure The approval arrives as the U.S. prepares to implement the GENIUS Act, a new framework for payment stablecoins signed into law in July. Though the rules have not yet taken effect, the legislation has already spurred crypto and fintech firms to expand into stablecoin issuance. MoonPay announced in November that it had launched an initiative enabling issuers to create and distribute their own stablecoins using MoonPay-built infrastructure. The trust charter positions the firm to offer stablecoin custody, settlement and potentially issuance under a federally recognised framework. The GENIUS Act is also influencing traditional financial institutions. Visa expanded its stablecoin capabilities over the summer, and Bank of America CEO Brian Moynihan said the bank is evaluating a potential stablecoin in partnership with other institutions. With its limited-purpose trust charter, MoonPay can now: Custody digital assets on behalf of institutions and clients in New York Offer OTC trading inside one of the most regulated state frameworks in the U.S. Act as a fiduciary — a requirement for banks, asset managers and regulated financial platforms Support future stablecoin issuance using NYDFS-compliant structures This regulatory positioning makes MoonPay one of the most advanced payment and settlement players preparing for a stablecoin-driven financial ecosystem. Why Traditional Finance Is Paying Attention MoonPay has built a global customer base of more than 30 million users and supports nearly 500 companies. What began as a retail on-ramp during the pandemic bull run has evolved into a broader infrastructure provider with institutional ambitions. During its early rise, the company integrated with platforms like OpenSea and Bitcoin.com and attracted endorsements from celebrities such as Paris Hilton and Jimmy Fallon, helping it reach mainstream visibility. In 2021, MoonPay was valued at 3.4 billion dollars in its first major financing round. In recent months, the company has expanded through targeted acquisitions, including: Helio, a Solana-focused payments platform Iron, a stablecoin infrastructure company Decent.xyz, an on-chain payment tool These businesses strengthen MoonPay’s ability to support merchant payments, enterprise cross-border transactions and developer-integrated payment rails tied to stablecoins. The firm is also working to unify regulatory compliance across jurisdictions. In Europe, it is aligning its operations with the Markets in Crypto-Assets (MiCA) framework, which provides standardized rules for custody, stablecoin issuance and digital-asset services across the region. The combination of U.S. and EU compliance positions MoonPay as a potential settlement provider for global financial platforms seeking regulated gateways between fiat and tokenized money. Investor Takeaway Stablecoin infrastructure is becoming the next major battleground. Companies with licenses across New York, federal frameworks and MiCA will dominate settlement, custody and payment flows. What Comes Next for MoonPay? With its new charter, MoonPay can operate as a fiduciary in New York — a status typically reserved for trust companies, custodians and banks. This makes the firm an attractive partner for institutions evaluating crypto custody or stablecoin settlement options. The expansion also opens the door for MoonPay to play a future role in regulated stablecoin issuance under both state and federal regimes once the GENIUS Act framework comes fully online. As banks, card networks and large enterprises evaluate their stablecoin strategies, MoonPay is positioning itself as a compliance-forward infrastructure provider able to bridge traditional financial railways and blockchain-based payment networks. The company’s shift from consumer on-ramp to regulated institutional partner represents one of the most notable transformations among crypto payments firms entering 2026.